DislikedI've close my longs and have started building a short position. Would like to see 1.05.
Happy Trades,
fxstirIgnored
Or... maybe not. Looked at previous decembers - not many of them were in consolidation.
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DislikedI've close my longs and have started building a short position. Would like to see 1.05.
Happy Trades,
fxstirIgnored
Disliked1.0460 should hold, 5m down, 15m ready for up, 1h down , 4h has more up. mixed for now no trade.Ignored
DislikedThis being December, this consolidation channel may play out well.
Or... maybe not. Looked at previous decembers - not many of them were in consolidation.Ignored
DislikedI think we all know that fundamentals don't really count in forex^^Ignored
DislikedIt's all about R:R for the big guys controlling the markets & shorting this pair is still very expensive from these levels where R:R isn't that attractive for them longer term. Even a 700 pip drop factoring the range they need for entries & exits & the 3% swap I really don't see any serious downside yet from these levels. That doesn't mean we won't get 100 pip sell offs here & there but any serious longer term moves to the downside I see starting at much higher levels, basically areas where most retailers will have watched it go up so much they...Ignored
DislikedBTW, it's not expensive to short aud from these levels. As I've mentioned before, bank bots conduct very short term trades. They do not pay swaps. The whole thing about interest rate playing a big role for the banks/big boys is very much misleading.
I can say this much though - right now, retail traders are pretty much confused. Every negative news event causes aud to rise - I can assure you that retail traders will soon start buying aud, if they haven't already, based on that fact.Ignored